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Seagate Posts Record Fourth Quarter but Tempers Calendar-Year View

Seagate Technology Inc. reported record fiscal fourth-quarter revenue but tempered its sales growth expectations for the calendar year as demand softens and hard-disk drive rivals recover faster than anticipated from severe Asian flooding.

Seagate, one of the world's biggest providers of hard-disk drives, had benefited of late from its strong position following flooding in Thailand. Rising water in the region damaged facilities of some of Seagate's rivals, allowing it to take share amid the production disruptions....